Thai Airways to exit debt restructuring programme

BANGKOK :Flag carrier Thai Airways International said on Monday it will exit its debt restructuring programme and expects to resume trading its shares on the stock market by early August.

Thailand's national airline went into bankruptcy-protected restructuring in 2020, reducing its workforce by half and trimming its fleet.

Since 2023, the airline has made a continuous operating profit every quarter, it said in a statement, a sharp turnaround for the carrier that had been booking losses nearly every year after 2012.

The airline has a debt obligation to creditors of around 190 billion baht ($5.86 billion), according to a court order, of which it has already paid back 94 billion baht and the remaining amount would be paid over the next decade, Thai Airways said.

"The company aims to enhance its international aviation potential and push Thailand to become a regional air travel hub," the statement said.

In a separate announcement, the company appointed Lavaron Sangsnit as its chairman.